REAL estate behemoth CapitaLand has won the tender to manage Bugis Village and Bugis Street for up to a decade, it said in a bourse filing on Thursday.

It will take over the integrated management of the area on April 1, 2020 with an initial three-year tenancy, which may be renewed for two further terms of three years each and a final tenancy term not extending beyond March 30, 2030.

Existing tenants at both sites can continue their business operations under CapitaLand for a year at the prevailing rent, until March 31, 2021.